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Singapore Transportation Infrastructure Construction Market Size (2024 - 2029)

The Singapore Transportation Infrastructure Construction Market is projected to experience growth over the forecast period, driven by robust public sector demand and a stable civil engineering construction sector. Despite challenges such as labor shortages and rising material costs due to global supply chain disruptions, the market is expected to expand as infrastructure spending increases. The continued demand for public housing, industrial, and institutional projects further supports the anticipated growth in market size.

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Market Size of Singapore Transportation Infrastructure Construction Industry

Singapore Transportation Infrastructure Construction Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 4.57 Billion
Market Size (2029) USD 5.59 Billion
CAGR (2024 - 2029) 4.07 %
Market Concentration Low

Major Players

Singapore Transportation Infrastructure Construction Market Major Players

*Disclaimer: Major Players sorted in no particular order

Singapore Transportation Infrastructure Construction Market Analysis

The Singapore Transportation Infrastructure Construction Market size is estimated at USD 4.57 billion in 2024, and is expected to reach USD 5.59 billion by 2029, growing at a CAGR of 4.07% during the forecast period (2024-2029).

Building and Construction Authority (BCA) predicts total construction demand for 2023 to be in the range of SGD 27 billion (USD 20.08 bn) to SGD 32 billion (USD 23.80 bn). Public sector demand is expected to account for about 60% of the total demand, ranging from SGD 16 billion (USD 11.90 bn) to SGD 19 billion (USD 14.13 bn). This is underpinned by a continuing strong public housing pipeline amid HDB鈥檚 expansion of BTO flats supply.

Industrial and institutional building demand is expected to continue to grow at a healthy pace, underpinned by more projects for water treatment plants and educational buildings, as well as community clubs. Civil engineering construction demand should remain stable, underpinned by MRT line and other infrastructure construction.

Singapore鈥檚 construction industry was expected to return to pre-COVID-19 activity levels in 2022 as the country鈥檚 infrastructure spending increased. According to the latest data from the Ministry of Commerce and Industry, the construction industry grew by 3.3 percent in the second quarter of 2022 compared to the 2.4 percent recorded in the first quarter of 2022.

However, the construction industry may be affected by the labor shortage, which has been partially alleviated by the government鈥檚 worker retention scheme, which was implemented between September 2021 and February 2022.

The construction sector has also been impacted by increasing oil prices and disruptions to global supply chains. This has led to an increase in material prices, machinery, and transportation costs. However, with continued construction demand driven by public sector projects, the construction sector is expected to grow in 2024.

Singapore Transportation Infrastructure Construction Industry Segmentation

There are many types of transport infrastructure construction in the market. These include road construction, rail construction, airport construction, and more.

The report provides a comprehensive background analysis of the Singapore Transportation Infrastructure Construction market, covering the current market trends, restraints, technological updates, and detailed information on various segments and the competitive landscape of the industry. Additionally, the COVID-19 impact has been incorporated and considered during the study. 

Singapore's transportation infrastructure construction market is segmented by type (roadways, railways, airports, ports, and inland waterways). 

The report offers market size and forecasts for the transportation infrastructure construction market in value (USD) for all the above segments.

By Mode
Roadways
Railways
Airways
Ports and Inland Waterways
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Singapore Transportation Infrastructure Construction Market Size Summary

The transportation infrastructure construction market in Singapore is poised for steady growth, driven by significant public sector investment and a robust pipeline of projects. The market is characterized by a diverse array of domestic and international players, with key companies such as Samsung C&T, Hyundai E&C, and Daewoo E&C actively participating. The government's commitment to expanding public housing and enhancing transportation networks, including the ambitious metro system expansion, underscores the sector's resilience and potential for development. Despite challenges such as labor shortages and rising material costs, the market is expected to maintain stability and attract new entrants due to the ongoing demand for infrastructure projects.

Singapore's construction industry is recovering from the impacts of the COVID-19 pandemic, with infrastructure spending playing a crucial role in this resurgence. The construction of major projects, such as Changi Airport Terminal 5 and the Cross Island Line, highlights the country's focus on enhancing connectivity and capacity. These developments are supported by advanced technologies and strategic partnerships, as seen in contracts awarded to both local and foreign firms. The market's growth trajectory is further bolstered by initiatives like the RTS Link, which aims to improve cross-border connectivity. As the sector continues to evolve, it remains a vital component of Singapore's economic landscape, with ongoing government support and a clear vision for future expansion.

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Singapore Transportation Infrastructure Construction Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Dynamics

      1. 1.2.1 Drivers

        1. 1.2.1.1 Increase In Tourism Industry

        2. 1.2.1.2 Sustainability and Environmental Concerns

      2. 1.2.2 Restraints

        1. 1.2.2.1 Financial Constraints

        2. 1.2.2.2 High Maintenance and Keep Up

      3. 1.2.3 Opportunities

        1. 1.2.3.1 Technological Advancements

    3. 1.3 Value Chain / Supply Chain Analysis

    4. 1.4 Industry Policies and Regulations

    5. 1.5 Technological Developments in the Sector

    6. 1.6 Industry Attaractiveness - Porter's Five Forces Analysis

      1. 1.6.1 Bargaining Power of Suppliers

      2. 1.6.2 Bargaining Power of Consumers/Buyers

      3. 1.6.3 Threat of New Entrants

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

    7. 1.7 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Mode

      1. 2.1.1 Roadways

      2. 2.1.2 Railways

      3. 2.1.3 Airways

      4. 2.1.4 Ports and Inland Waterways

Singapore Transportation Infrastructure Construction Market Size FAQs

The Singapore Transportation Infrastructure Construction Market size is expected to reach USD 4.57 billion in 2024 and grow at a CAGR of 4.07% to reach USD 5.59 billion by 2029.

In 2024, the Singapore Transportation Infrastructure Construction Market size is expected to reach USD 4.57 billion.

Singapore Transportation Infrastructure Construction Market Report Snapshots

Singapore Transportation Infrastructure Construction Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)